The Glory Years of Iraq Dinar Exchange Rate: BY DINAR IRAQ AND DONG VIETNAM, 30 APRIL

 The Glory Years of Iraq Dinar Exchange Rate:-

Here's a brief overview of the history of the Iraqi dinar's exchange rate against the U.S. dollar since the 1930s:

1930s-1950s: The Iraqi dinar was introduced in 1932 and initially pegged to the British pound at a rate of 1 dinar = 1 pound sterling. This effectively meant 1 IQD = $4.86 USD in the 1930s.

1959: Iraq devalued the dinar and pegged it to the U.S. dollar at a rate of 1 IQD = $2.80 USD.

1971: The dinar's peg was adjusted to 1 IQD = $3.39 USD after the U.S. devalued the dollar.

1973: After the U.S. abolished the gold standard, Iraq maintained the $3.39 rate for a couple years.

1982: Iraq devalued to 1 IQD = $3.22 USD.

1984-1987: Several further devaluations occurred during the Iran-Iraq War, with the rate dropping from $3.22 to around $3 per IQD.

1989: On the cusp of the Gulf War, the dinar devalued significantly to around 1 IQD = $0.31 USD.

SOURCE: DINARIRAQ&DONG VIETNAM